LESSONS LEARNED-Learning from failure
In Silicon Valley failure is accepted, embraced and sometimes even celebrated. Every dead end is seen as a possible breakthrough, and every failed venture just boosts your street cred for your next project’s rush of investor dollars. Not so in Minnesota, where people have learned some hard lessons about the price of not succeeding. When your car fails to start on a mid-January morning, you aren’t facing an opportunity, you’re considering the possibility of having your hands freeze to the steering wheel. Failure is not seen as a chance for growth, but as the polar (pun intended) opposite of success. But, I’m here to tell you there are good, constructive lessons to be learned from failure. After all, I’ve been a Minnesota entrepreneur and venture capitalist for 20+ years. I’ve learned that, while there are lots of ways to fail, there are also lots of ways to learn from your mistakes.